government backing of the mortgage market. Nonetheless, the dominance of the crown corporation CMHC in the mortgage insurance … market concentrates a significant amount of risk in public finances. Improving competitive conditions in the mortgage …

The most frequent mortgage loans in the US behave according to nominal interest rates with level loan payments (NRMs …), like Fixed Rate Mortgages (FRMs) or Adjustable Rate Mortgages (ARMs). We use a model to show that the tilt effect, an … increase of real payments in the early years of the mortgage due to higher inflation (Lessard and Modigliani, 1975), causes …

This paper assesses how the degree of the mortgage market flexibility alters the effect of a residential house price … credit and GDP response to a house price shock in countries with a more flexible mortgage market …

a bank-level cap on mortgage credit growth to investors while the second policy placed a bank-level cap on the share of … interest-only mortgage lending. We show that the first policy caused a sharp and large drop in credit growth to investors …

risk composition channel of income inequality. Following a rise in income inequality house prices and mortgage debt decline …

The sensitivity of housing demand to mortgage rates and available leverage is key to understanding the effect of … financing scenarios. We vary down payment constraints, mortgage rates, and non-housing wealth. We find that a relaxation of down … poorer and more credit-constrained borrowers. On the other hand, changing the mortgage rate by 2 percentage points only …

This paper studies how mortgage borrowers and house prices react to a tightening of mortgage limits following a policy … change in Ireland in 2015. The policy introduced limits to the loan-to-income and loan-to-value ratios of new mortgages … leverage (LTV) of the mortgage. Using a difference-in-difference methodology, I find that groups of (poorer) borrowers, who …

We study the relationship between homebuyers' beliefs about future house price changes and their mortgage leverage … choices in the U.S. housing market. Our data combine mortgage financing information and a housing market expectations survey …